ADB, EU pledge USD 218.5 mn for quake-hit Nepal

The Asian Development Bank (ADB) and the European Union (EU) have pledged USD 200 million and 16.6 million euros respectively for Nepal's post-quake rehabilitation and reconstruction works.
The ADB has pledged approximately 20 billion Nepali rupees for the reconstruction works, Finance Minister Ram Sharan Mahat tweeted yesterday.
Mahat is currently in Azerbaijan's capital Baku to participate in the 48th General Assembly of the ADB and to garner international support for Nepal's rehabilitation and reconstruction efforts following the April 25 quake that has killed over 7,500 people and damaged over 2,00,000 buildings.
The ADB funds will be mobilised in new reconstruction projects to be undertaken by the Nepal government, according to the ministry.

The government has already announced to set up the National Reconstruction Fund to rebuild the damaged infrastructures, earmarking Rs 20 billion for the fund that aims to collect Rs 200 billion in total.
Mahat also tweeted that Japanese Deputy Prime Minister and Finance Minister Taro Aso had proposed a separate donor conference to raise funds to support Nepal.

The EU has approved 16.6 million euros in financial assistance to Nepal and the amount will be made available to the government by this week, the grouping said.
A joint meeting of the EU and UN mission to Nepal also decided yesterday to make available an additional 3 million euros in emergency aid, bringing the total of the European Commission's support to 22.6 million euros since the powerful temblor jolted the Himalayan nation.

"This support is an expression of our solidarity with the Nepalese people," said EU Commissioner for International Cooperation and Development Neven Mimica in a statement.